Revenue & Foreign EU Deposits

[riain2011]

I have already read the very helpful posts re taxation of bank deposit interest in other EU countries, and that it must be declared to revenue even if no additional tax is due

I am not proposing non-declaration

However, vis a vis considering the advantages / disadvantages of opening a deposit account abroad with say 50K, are you now on Revenue's tax radar and maybe be singled out for special attention as a person with "offshore money" ??

 

[frankmac]

I think the only way you would be "singled out" as you put it, would be to provide an explanation where the money deposited came from. If it is legit and you have paid your taxes (if they were due) on it, then you have no problem

 

[Bronte]

Don't banks have to notify revenue if large transfers are made, can't remember the amount but it was something to do with money laundering. So revenue probably know you have moved money abroad.